RSA sees better-than-expected Q3

3 January 200212:43 am GMT

RSA Security (Nasdaq: RSAS) says it will report better-than-expected results for the third quarter and plans to buy back stock.

After market close Wednesday, the vendor of online security technology said its preliminary results indicate a third quarter of 24 cents per share in its core operating business. First Call's survey of 11 analysts predicted a profit of 23 cents per share for the quarter ended Sept. 30.

Also Wednesday, RSA said its board has approved a buyback of up to 4 million shares.

Third quarter revenue was about $72 million, the company said. "We exceeded Wall Street expectations for revenues and earnings, and all product lines and geographies were at or above our internal goals," said Art Coviello, president and CEO.

RSA's public key infrastructure products saw a 34 percent improvement from the second quarter, Coviello said.

Final results for the third quarter are scheduled to be reported Oct. 12.>